Tidewater Renewables (TSE:LCFS) Reaches New 1-Year High – Here’s What Happened

Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$21.49 and last traded at C$21.20, with a volume of 3773 shares changing hands. The stock had previously closed at C$21.13.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LCFS. ATB Cormark Capital Markets boosted their price objective on Tidewater Renewables from C$16.00 to C$19.00 and gave the stock a “speculative buy” rating in a research note on Friday, August 14th. National Bank Financial lifted their target price on Tidewater Renewables from C$13.25 to C$22.75 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, Royal Bank Of Canada upgraded shares of Tidewater Renewables from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$12.50 to C$25.00 in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Tidewater Renewables has a consensus rating of “Buy” and a consensus price target of C$22.25.

Tidewater Renewables Stock Performance

The firm’s 50-day moving average price is C$17.80 and its two-hundred day moving average price is C$12.65. The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 109.35. The firm has a market capitalization of C$779.68 million, a PE ratio of 94.05 and a beta of -0.59.

Tidewater Renewables (TSE:LCFS) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.13 EPS for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The business had revenue of C$160.60 million during the quarter. As a group, research analysts predict that Tidewater Renewables Ltd. will post 0.15 earnings per share for the current fiscal year.

About Tidewater Renewables

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.